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Bills · 2013-2014 Regular Session

SB 408

Died at session end Official bill text Atom feed

Relating to: school district bonds, promissory notes, and state trust fund loans.

School School — Bonds Trust fund Unemployment

  1. Introduced, stopped here
  2. Passes Senate, not reached
  3. Passes Assembly, not reached
  4. Governor signs, not reached
  5. Law, not reached

Unfamiliar terms? Glossary

What this bill does

Plain-language analysis by the nonpartisan Legislative Reference Bureau

Under current law, if a school board adopts a resolution to issue a bond or a

promissory note, the school district clerk must publish or post a notice except in

certain specified situations. The notice must state the maximum amount proposed

to be borrowed, the purpose of the borrowing, and the place where and the hours

during which the resolution may be inspected. If a school district applies for a state

trust fund loan, the notice must state the amount of the proposed loan and the

purpose for which it will be used.

This bill requires the above notices to also include the estimated amount of

interest costs, the estimated amount of other costs associated with issuing the bond

or promissory note or obtaining the loan, and the assumptions made with regard to

estimating interest and other costs.

Sponsors

Introduced by: Lasee (R) , Lazich (R)

12 cosponsors

Bies (R) , Craig (R) , Kestell (R) , Kooyenga (R) , Marklein (R) , Murphy (R) , Nass (R) , Nygren (R) , Pridemore (R) , Strachota (R) , Stroebel (R) , Thiesfeldt (R)

Full history

  1. Nov 21, 2013 · Senate

    Introduced by Senators Lasee and Lazich; cosponsored by Representatives Strachota, Stroebel, Nygren, Murphy, Kooyenga, Marklein, Nass, Pridemore, Bies, Kestell, Craig and Thiesfeldt

  2. Nov 21, 2013 · Senate

    Read first time and referred to Committee on Education

  3. Apr 8, 2014 · Senate

    Failed to pass pursuant to Senate Joint Resolution 1